Tesla Motors CEO Elon Musk doesn't think everyone should be making the Chevy Bolt out to be a Tesla competitor.
The Bolt is a 200-mile-range electric concept car that Chevrolet prices at $30,000 after tax incentives. The upcoming Tesla Model 3, on the other hand, will be priced at $35,000 -- before any kind of state or federal tax break for driving electric, Musk said.
Jalopnik estimates that would make the vehicle about $27,500 after current federal incentives, which knock a healthy $7,500 off a car's price. Not too bad for a state-of-the-art Tesla vehicle.
Musk promises the Model 3 will be "unlike anything on the road." It has a minimalist design and is set to run on cheaper batteries from Tesla, which manufactures electric vehicles. The Model 3 is poised for a 2017 debut. It is supposed to be 20% smaller than the Model S and -- presumably to keep the price down -- some features will be optional, Musk said at the North American International Auto Show in Detroit this week.
Of course, the Tesla Model 3 isn't exactly ready to hit garages any time soon. We're still waiting on the seemingly perpetually delayed Tesla Model X, which is slated for a launch sometime in the latter half of this year. (The crossover utility vehicle was originally scheduled to be on roads in 2013.)
Here's to hoping the Model 3 isn't delayed multiple times like its older sibling.